Stock Market Today: Futures Rise as Citigroup Reaches $7B MBS Settlement
NEW YORK (TheStreet) -- U.S. stock futures were signaling a firmer open on Wall Street Monday as European contagion fears subsided and Wall Street grew more optimistic that second-quarter earnings growth momentum will overcome shifting monetary policy.
Citigroup (C) beat second-quarter earnings estimates, helping to push shares higher in premarket trading. The stock rose nearly 4% to $48.82 after the bank reported adjusted earnings of $1.24 a share vs. the consensus estimate of $1.05. Citigroup also announced a $7 billion settlement with U.S. authorities over the investigation of its sales of mortgage-backed bonds.
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